GKID: e-retailers operating from abroad pose a great challenge to Hungarian online stores
Customers spent more wisely last year and, due to the cheaper prices, noticeably more people order from foreign online stores, which poses a great challenge for domestic retailers – said the senior consultant of the market research company GKID at the Ecommerce Expo professional event in Budapest on Thursday.
In his presentation, Norbert Madar explained: according to preliminary data, domestic online retail will reach an annual turnover of around HUF 1,500 billion in 2023, 8.5 percent more than the previous year.
He pointed out that after the end of the coronavirus epidemic, for the first time in its history, online trade traffic grew more slowly than traditional store trade, because customers returned to stores.
Related news
Dark patterns are spreading in e-commerce – and official action against them is also more frequent
Urging, pressuring, hiding costs or “trickling” them – dark patterns…
Read more >Lost parcels cost online stores hundreds of millions
European online retailers missed out on more than half a…
Read more >Amazon’s quarterly profit jumps and revenue increases
E-commerce giant Amazon reported better-than-expected first-quarter earnings and revenue. The…
Read more >Related news
Márton Nagy: the government would introduce margin restrictions for stores selling household goods
The government may discuss on Wednesday and is expected to…
Read more >The Hungarian Food Bank Association is organizing a record-sized food collection on Friday and Saturday
At the Friday and Saturday fundraiser organized by the Hungarian…
Read more >Pick Szeged Zrt.’s profit decreased, but its sales revenue increased last year
Pick Szeged Zrt.’s after-tax profit in 2024 was 6.7 billion…
Read more >